Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by SVB Wealth LLC

SVB Wealth LLC boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.5% in the fourth quarter, HoldingsChannel reports. The firm owned 12,575 shares of the oil and gas producer’s stock after purchasing an additional 308 shares during the quarter. SVB Wealth LLC’s holdings in Occidental Petroleum were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ironwood Wealth Management LLC. acquired a new position in Occidental Petroleum during the 1st quarter worth $334,000. Cibc World Market Inc. grew its stake in Occidental Petroleum by 47.2% in the first quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock valued at $3,160,000 after purchasing an additional 17,859 shares in the last quarter. Prudential PLC purchased a new position in Occidental Petroleum in the first quarter valued at about $1,124,000. Sequoia Financial Advisors LLC purchased a new position in Occidental Petroleum in the first quarter valued at about $313,000. Finally, Candriam Luxembourg S.C.A. grew its stake in Occidental Petroleum by 12.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock valued at $3,094,000 after purchasing an additional 6,018 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Up 0.9 %

Occidental Petroleum stock opened at $66.63 on Friday. The business has a 50 day moving average price of $63.39 and a two-hundred day moving average price of $61.16. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The stock has a market cap of $59.07 billion, a price-to-earnings ratio of 17.04 and a beta of 1.64. Occidental Petroleum Co. has a 12 month low of $55.12 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 EPS. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.74 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were issued a $0.22 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.32%. Occidental Petroleum’s dividend payout ratio is 22.51%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OXY shares. Stephens reiterated an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Morgan Stanley upped their price target on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Wells Fargo & Company upped their price target on Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. HSBC started coverage on Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 price target for the company. Finally, Barclays initiated coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Moderate Buy” and a consensus target price of $72.06.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.